Tags: ML | Abu | Dhabi | Investment | Fund

Abu Dhabi Investment Fund Looks to Go Private

Monday, 21 Jun 2010 04:47 AM

 

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The Abu Dhabi state investment fund with the biggest stake in the maker of Mercedes-Benz says it is considering taking itself private.

Aabar Investments said in a regulatory disclosure Monday its board will meet later in the week to consider canceling its listing on the Abu Dhabi stock exchange and convert itself into a privately held company.

Aabar is unusual among Gulf state investment funds in that it sells some shares to the public.

It is majority owned by the oil-rich government of Abu Dhabi, the largest of seven sheikdoms that make up the United Arab Emirates.

It owns 9.1 percent of Daimler and nearly a third of Richard Branson's commercial space travel startup Virgin Galactic.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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